Is entrepreneurialism hurting the U.S. by splintering its industrial base?

The U.S. economy's undisputed hero in the 1980s has been that footloose, creative pathfinder the entrepreneur. At a time when corporate America often seemed incapable of daring innovation, the likes of Apple Computer's Steve Jobs and Microsoft's Bill Gates forged breakthroughs in semiconductors, software and personal computers. Even in lower-tech fields, such risk takers as Domino's Pizza Founder Tom Monaghan demonstrated an impressive ability to create new products and services that no dominant corporation could match. "This has been a great age to be living in if you're an entrepreneur," exclaims Alfred Rappaport, a Northwestern University business professor who started his...